Go to the U of M home page.

Prof. Daniel Schwarcz Named NAIC Consumer Representative

DECEMBER 16, 2010—Law School Associate Professor Daniel Schwarcz has been selected for the fourth consecutive year as a Funded Consumer Representative to the National Association of Insurance Commissioners (NAIC) for 2011.

All candidates must apply for the position and are chosen on the basis of their experience and expertise in consumer insurance issues, consumer-advocacy skills, and freedom from conflicts of interest. Funded representatives, 18 of which were named for 2011, are required to attend all NAIC national meetings and participate in NAIC deliberations and are reimbursed for travel expenses. Nine unfunded representatives from consumer organizations also were selected.

All funded members represent nonprofit organizations and in 2011 will include public policy analysts, professors, consumer and health advocates, insurance experts and researchers, and directors of health care initiatives.

Participation represents a significant commitment, Schwarcz says, but the role of consumer representative relates directly to his research on consumer protection issues in insurance markets. The primary intersection of his research and the NAIC has been insurance policy transparency, including accessibility, readability, pre-sale disclosures, and standardized documentation, Schwarcz notes. He has provided written and oral comments and given formal presentations at NAIC meetings, interacted independently with several state insurance commissioners, and written scholarly articles on various aspects of insurance regulation and policy transparency.

The NAIC established the consumer-representation program in 1992 to enhance the insurance regulatory system for consumers by establishing the Consumer Liaison Committee, charged with providing the consumer view on issues under discussion. Consumer representatives “provide tremendous insight and are an essential part of the regulatory dialogue,” said NAIC President-Elect Susan E. Voss in a press release announcing the 2011 representatives.

The Kansas City, Mo.-based NAIC is a voluntary organization composed of the chief insurance regulatory officials of all U.S. states, territories, and the District of Columbia. Its primary goal is to support state insurance regulators in protecting consumers and maintaining the financial stability of the insurance marketplace.

The NAIC is the nation’s oldest association of state officials, dating back to 1871 when state insurance regulators recognized the need for uniform financial reporting by insurance companies in various states. It has evolved to include a Securities Valuation Office in New York and an Executive Office in Washington, D.C., which advises state regulators on implications of federal and international actions.



Daniel Schwarcz

Read Professor
Schwarcz's Bio